Exchange Traded Concepts LLC Raises Position in Palantir Technologies Inc. $PLTR

Exchange Traded Concepts LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 1,148.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 341,725 shares of the company’s stock after acquiring an additional 314,360 shares during the quarter. Palantir Technologies comprises 0.6% of Exchange Traded Concepts LLC’s investment portfolio, making the stock its 28th biggest position. Exchange Traded Concepts LLC’s holdings in Palantir Technologies were worth $46,584,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Marshall Financial Group LLC purchased a new stake in Palantir Technologies during the second quarter valued at about $249,000. Weinberger Asset Management Inc purchased a new stake in Palantir Technologies during the second quarter valued at about $339,000. Park Capital Management LLC WI purchased a new stake in Palantir Technologies during the second quarter valued at about $661,000. Fulton Bank N.A. purchased a new position in shares of Palantir Technologies in the second quarter worth about $401,000. Finally, Vista Investment Partners LLC increased its holdings in shares of Palantir Technologies by 2.3% in the second quarter. Vista Investment Partners LLC now owns 9,245 shares of the company’s stock worth $1,260,000 after buying an additional 208 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 21,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $165.95, for a total transaction of $3,484,950.00. Following the completion of the sale, the director owned 59,794 shares of the company’s stock, valued at $9,922,814.30. The trade was a 25.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the sale, the insider directly owned 702,786 shares of the company’s stock, valued at approximately $112,129,506.30. The trade was a 4.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,625,634 shares of company stock worth $248,926,404. Company insiders own 9.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PLTR. Wall Street Zen downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Morgan Stanley set a $155.00 price objective on Palantir Technologies and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $90.00 to $141.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Finally, Piper Sandler set a $182.00 target price on Palantir Technologies in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $138.28.

Palantir Technologies Stock Down 1.1%

Shares of PLTR opened at $168.33 on Thursday. The business’s 50 day moving average price is $161.82 and its 200-day moving average price is $128.60. Palantir Technologies Inc. has a 52 week low of $35.71 and a 52 week high of $190.00. The stock has a market cap of $399.34 billion, a P/E ratio of 561.12, a P/E/G ratio of 9.60 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period in the previous year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.